Loss of rent insurance enables you to claim back lost income if your rental property becomes uninhabitable due to an insured event and your tenants are forced to move out. An insured event includes things like a fire or flood.
If you wish to cover unpaid rent while your tenant or ex-tenant is still in your residential property, you can add Rent Guarantee as part of our legal expenses cover.
Loss of rent insurance is an optional cover that you can add to your residential, commercial or multi-property landlord insurance policy for an additional premium. This can be done when you get a quote or can be added at any time to an existing landlord insurance policy.
When you rely on rent paid by your tenants to cover your own bills, it's important to make sure that the properties you let remain in good working order. But sometimes things happen that are outside of your control.
If your tenants are forced to move out as a result of an event that leaves the property uninhabitable, you'd lose that rental income until it can be rented out once again. Loss of rent insurance means you’ll be able to claim back this lost income while the property is being repaired.
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